Wellington Management Group LLP Acquires 99,268 Shares of NetEase, Inc. $NTES

Wellington Management Group LLP raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 52.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 287,620 shares of the technology company’s stock after purchasing an additional 99,268 shares during the period. Wellington Management Group LLP’s holdings in NetEase were worth $36,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after buying an additional 274,500 shares during the last quarter. Bank of America Corp DE increased its holdings in NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NetEase by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock worth $120,697,000 after buying an additional 155,784 shares in the last quarter. Finally, Man Group plc raised its position in NetEase by 7.3% in the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock worth $160,368,000 after buying an additional 71,966 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NTES shares. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Nomura raised their target price on shares of NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research report on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $160.57.

Insider Transactions at NetEase

In related news, VP Bin Mo sold 716 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 54.70% of the company’s stock.

NetEase Stock Performance

Shares of NetEase stock opened at $119.29 on Friday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The stock’s fifty day moving average is $126.98 and its 200 day moving average is $120.50. The stock has a market cap of $76.38 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.35 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be given a $0.48 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. NetEase’s dividend payout ratio is presently 26.31%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.